Capital International Investors Has $65.19 Million Stock Holdings in Upwork Inc. $UPWK

Capital International Investors grew its stake in Upwork Inc. (NASDAQ:UPWK) by 37.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,288,860 shares of the company’s stock after buying an additional 900,318 shares during the period. Capital International Investors’ holdings in Upwork were worth $65,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Handelsbanken Fonder AB increased its stake in shares of Upwork by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock valued at $638,000 after buying an additional 700 shares during the period. Straightline Group LLC increased its stake in shares of Upwork by 2.4% in the fourth quarter. Straightline Group LLC now owns 39,222 shares of the company’s stock valued at $777,000 after buying an additional 920 shares during the period. Raymond James Financial Inc. increased its stake in shares of Upwork by 4.0% in the third quarter. Raymond James Financial Inc. now owns 24,004 shares of the company’s stock valued at $446,000 after buying an additional 928 shares during the period. Farther Finance Advisors LLC raised its position in shares of Upwork by 594.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after acquiring an additional 1,165 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of Upwork by 998.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock worth $26,000 after acquiring an additional 1,278 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Insider Activity at Upwork

In related news, CFO Erica Gessert sold 9,278 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total value of $114,212.18. Following the completion of the sale, the chief financial officer directly owned 307,240 shares of the company’s stock, valued at $3,782,124.40. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dave Bottoms sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $11.49, for a total value of $80,430.00. Following the completion of the sale, the insider directly owned 2,678 shares of the company’s stock, valued at $30,770.22. The trade was a 72.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,080 shares of company stock valued at $647,675 in the last three months. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UPWK shares. UBS Group lowered Upwork from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $10.00 in a research report on Friday, May 8th. Citizens Jmp downgraded Upwork from an “outperform” rating to a “market perform” rating in a report on Friday, May 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $27.00 target price on shares of Upwork in a report on Tuesday, February 10th. Citigroup lowered their target price on Upwork from $17.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. Finally, Weiss Ratings downgraded Upwork from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.50.

Upwork Stock Performance

Shares of UPWK stock opened at $8.86 on Tuesday. Upwork Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $22.84. The company has a market cap of $1.09 billion, a P/E ratio of 10.94 and a beta of 1.01. The stock has a 50 day simple moving average of $9.87 and a two-hundred day simple moving average of $14.78.

Upwork announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 18% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Upwork Company Profile

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.